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Proxy advisory firm Glass Lewis advised Tesla (NASDAQ) shareholders on Saturday to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which, if approved, would be the largest CEO pay package in U.S. corporate history. Glass Lewis cited several reasons for this recommendation, including the “excessive size” of the pay deal, […]
Tesla shareholders advised to reject Musk’s $56 billion pay Read More »
The Federal Reserve should wait for more substantial progress on inflation before considering interest rate cuts, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Tuesday. When asked about the conditions for rate cuts in 2024, Kashkari said, “We need many more months of positive inflation data to give me confidence that it’s appropriate
Fed’s Kashkari wants ‘many more months’ of positive inflation data before rate cut Read More »
JPMorgan strategists suggest that investors should consider shifting towards defensive and commodity stocks in anticipation of upcoming central bank rate cuts. Historically, defensive stocks have underperformed when bond yields were rising. However, this phase might be concluding, according to the Wall Street giant. During the November-December period, cyclicals rallied as the US 10-year yield
JPMorgan recommends defensive, commodity stocks ahead of rate cuts Read More »
U.S. Stock Futures Rise as Traders Return Post-Holiday U.S. stock futures are pointing higher as traders return to their desks after the public holiday on Monday. Key events this week include the release of the Federal Reserve’s preferred inflation measure and a dwindling stream of corporate earnings reports, offering insights into the health of
U.S. futures tick higher, consumer confidence survey ahead – what’s moving markets Read More »
Embattled Chinese property developer China Vanke announced on Monday that it has sold a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million). This sale price is more than 27% below what the company paid for the land nearly seven years ago. China Vanke is striving to raise funds following its statement
China Vanke sells Shenzhen land plot at loss-making reserve price Read More »
Russia will construct a small nuclear power plant in Uzbekistan, marking the first such project in post-Soviet Central Asia. This announcement was made by Uzbek President Shavkat Mirziyoyev during a meeting with visiting Russian President Vladimir Putin. If realized, this nuclear deal will demonstrate Russia’s capability to export not only energy but also high-tech
Russia to build Central Asia’s first nuclear power plant in Uzbekistan Read More »
Amazon’s cloud computing arm, AWS, is negotiating with Italy to invest billions of euros in expanding its data center operations in the country. This initiative is part of Amazon’s strategy to strengthen its cloud services in Europe, according to four sources familiar with the matter. The discussions about the investment’s scale and location are
Amazon in talks with Italy to invest billions of euros in cloud plan, sources say Read More »
Iran continues to enrich uranium close to weapons-grade levels at a steady pace, while efforts to enhance its cooperation with the U.N. nuclear watchdog remain stalled, according to two confidential reports from the watchdog revealed on Monday. The International Atomic Energy Agency (IAEA) is encountering multiple challenges in Iran, including the limited implementation of measures
Iran’s near-bomb-grade uranium stock grows, talks stall, IAEA reports say Read More »
Oil prices rose over 1% in quiet trading on Monday due to public holidays in Britain and the United States, following a downbeat week driven by concerns over U.S. interest rates amid persistent inflation. The Brent crude July contract increased by $1, or 1.2%, to settle at $83.12 a barrel. The more active August
Oil rises 1% ahead of inflation data after downbeat week Read More »
Meta Platforms (NASDAQ) has enhanced its misinformation tracking tool, CrowdTangle, with new safety features for the upcoming European Parliament elections. These improvements aim to address EU concerns that led to an investigation last month following Meta’s decision to phase out the tool. Last week, the U.S. social media giant announced that candidates for the
Meta adds safety features to CrowdTangle in bid to address EU concerns Read More »